Marine Department launches Green Maritime Fuel Bunkering Incentive Scheme to encourage relevant development
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The International Maritime Organization (IMO) has set an ambitious target to reach net-zero carbon emissions from international shipping by or around 2025. Under the key policy drive of the IMO, the international maritime industry is now undergoing an irreversible green transformation, and the use of low- or even zero-carbon fuels is quickly gaining popularity.
To complement and encourage the green transformation of the shipping industry, the Government promulgated the Action Plan on Green Maritime Fuel Bunkering on November 15, 2024, setting out clear targets, five green-centric strategies and 10 actions to support the development of green maritime fuel bunkering and trading in Hong Kong. One of the actions proposed in the Action Plan is to set up a Green Maritime Fuel Bunkering Incentive Scheme, which serves to encourage pioneer companies to develop green maritime fuel bunkering business in Hong Kong.
Considering that certain investments in preparatory work, including risk assessments by companies, are required before carrying out green maritime fuel bunkering, and the pioneer companies will help kick-start the industry development by paving the way and accumulating invaluable experience, incentives will be granted to these companies. Under the current tranche of the Scheme, which targets liquefied natural gas (LNG) and green methanol, an incentive of $500,000 will be granted to each pioneer company for each of its first two LNG or green methanol bunkering operations completed within one year from the MD's acceptance of its risk assessment. Pioneer companies that have already completed the relevant assessments and/or bunkering operations before the Scheme launch are also eligible to receive incentives under the Scheme. The maximum amount of incentive for each type of recognised green maritime fuel is $2,000,000, and incentives will be disbursed on a first-come, first-served basis. Details are set out in the Introduction of the Green Maritime Fuel Bunkering Incentive Scheme in the Annex.
A spokesperson for the MD said, "Hong Kong, China, as an associate member of the IMO, has long been committed to supporting the IMO's emission reduction target. At the same time, the development of green maritime fuel bunkering capabilities in Hong Kong will allow us to capitalise on the existing unique advantages of our port, including our location at the southernmost tip of China next to the international fairway, to maintain our positioning as a major bunkering port and international maritime centre. The Scheme will help encourage pioneer enterprises to start green maritime fuel bunkering businesses in Hong Kong early, as well as help level the playing field between pioneers and late joiners."
"The MD has established a dedicated team that provides one-stop services to companies interested in setting up green shipping-related businesses in Hong Kong. At the same time, we also provide clear guidelines and support to companies interested in conducting green maritime fuel bunkering operations in Hong Kong, to facilitate their smooth completion of the relevant assessments and pre-bunkering procedures," the spokesperson continued.
The application form of the Scheme has been uploaded onto the MD's website. Application forms will also be provided to relevant applicant companies by the Green Maritime Fuel Team of the MD upon request. For details, please contact the Green Maritime Fuel Team of the MD via email: greenfuel@mardep.gov.hk.
Ends/Monday, June 30, 2025
Issued at HKT 15:00
Issued at HKT 15:00
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